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DEBT | 3 Months Ended
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Mar. 31, 2019
Debt Instruments [Abstract] |
DEBT | DEBT Long-term debt (including finance lease obligations) as of March 31, 2019 and December 31, 2018 consisted of the following:
| March 31, 2019 |  | December 31, 2018
Secured Receivables Credit Facility (3.39% at December 31, 2018) | $ | — |  |  | $ | 160 |
2.70% Senior Notes due April 2019 | 300 |  |  | 300 |
4.75% Senior Notes due January 2020 | 506 |  |  | 507 |
2.50% Senior Notes due March 2020 | 300 |  |  | 300 |
4.70% Senior Notes due April 2021 | 556 |  |  | 557 |
4.25% Senior Notes due April 2024 | 301 |  |  | 299 |
3.50% Senior Notes due March 2025 | 570 |  |  | 562 |
3.45% Senior Notes due June 2026 | 475 |  |  | 469 |
4.20% Senior Notes due June 2029 | 499 |  |  | — |
6.95% Senior Notes due July 2037 | 175 |  |  | 175 |
5.75% Senior Notes due January 2040 | 244 |  |  | 244 |
4.70% Senior Notes due March 2045 | 300 |  |  | 300 |
Other | 36 |  |  | 37 |
Debt issuance costs | (23 | ) |  | (17 | )
Total long-term debt | 4,239 |  |  | 3,893 |
Less: Current portion of long-term debt | 1,108 |  |  | 464 |
Total long-term debt, net of current portion | $ | 3,131 |  |  | $ | 3,429 |
2019 Senior Notes Offering In March 2019, the Company completed a senior unsecured notes offering (the “2019 Senior Notes”), consisting of $500 million aggregate principal amount of 4.20% senior notes due June 2029, issued at a discount of $1 million. The 2019 Senior Notes are unsecured obligations of the Company that rank equally with the Company's other senior unsecured obligations. The 2019 Senior Notes do not have a sinking fund requirement. The Company incurred $5 million of debt issuance costs associated with the 2019 Senior Notes, which is included as a reduction to the carrying amount of long-term debt and is being amortized over the term of the related debt. A portion of the net proceeds from the 2019 Senior Notes were used to repay outstanding indebtedness under the secured receivables credit facility and for general corporate purposes. Additionally, in April 2019, a portion of the proceeds were used to repay in full the outstanding indebtedness under the Company's Senior Notes due April 1, 2019. Secured Receivables Credit Facility During the three months ended March 31, 2019, there were $640 million in cumulative borrowings under the secured receivables credit facility primarily associated with working capital requirements as well as the funding of the Company's 2019 business acquisition. During the three months ended March 31, 2019, there were $800 million in repayments under the secured receivables credit facility. Maturities of Long-Term Debt As of March 31, 2019, long-term debt matures as follows:
Year Ending December 31, |
Remainder of 2019 | $ | 302 |
2020 | 803 |
2021 | 553 |
2022 | 3 |
2023 | 1 |
Thereafter | 2,649 |
Total maturities of long-term debt | 4,311 |
Unamortized discount | (9 | )
Debt issuance costs | (23 | )
Fair value basis adjustments attributable to hedged debt | (40 | )
Total long-term debt | 4,239 |
Current portion of long-term debt | 1,108 |
Total long-term debt, net of current portion | $ | 3,131 |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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- References No definition available. + Details
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